Process Innovation and the Persistence of Monopoly with Labour-Managed Firms

Lambertini, Luca (1998) Process Innovation and the Persistence of Monopoly with Labour-Managed Firms. DOI 10.6092/unibo/amsacta/770.
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Abstract

The issue of the persistence of monopoly when at least one labour-managed firm takes part in an auction for a cost-reducing innovation is tackled in this paper. It is shown that (i) when the incumbent is a profit-maximizing firm while the entrant is a labour-managed firm, monopoly persists; (ii) when both firms are labour-managed, monopoly persists only if the technology initially employed by the incumbent is highly ine¢cient as compared to the new one; and, finally, (iii) when the incumbent is labour-managed while the outsider is a profit seeking agent, then entry always occurs and monopoly changes hands.

Abstract
Document type
Monograph (Working Paper)
Creators
CreatorsAffiliationORCID
Lambertini, Luca
Keywords
auction process innovation persistence of monopoly efficiency effect labour-managed firms
Subjects
DOI
Deposit date
17 Jun 2004
Last modified
17 Feb 2016 14:04
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